A ten stage fracture stimulation of the well encountered a total of 431 bbls of oil and 545 bbls of water, recovering 50% of the frac fluid and in the final 24 hours of the flow test, oil at a rate of 210 bbls/d with a 65% cut was observed.
The company has shut the well now to allow it to be tied into its existing oil battery and bring into production, slated to occur within the next week.
Nextraction Energy president Kent Edney said the company is encouraged by the initial results of this well.
"They confirm the reservoir model our team has developed and give us confidence heading into the drilling and completion of additional wells in the remainder of the year," Kent added.
"The anticipated production and cash flow growth will be significant for the Company and will help it to successfully take the next step as a high-growth Canadian oil company."
Nextraction, which holds a 50% stake in the well, is now preparing to drill the next well in this month and intends to test about four additional horizontal wells in the site during the second half of 2012.
The company said it has identified 35 potential follow up locations to this initial well.
